Lingotto Investment Management LLP Purchases Shares of 933,859 Tempus AI, Inc. (NASDAQ:TEM)

Lingotto Investment Management LLP acquired a new position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 933,859 shares of the company's stock, valued at approximately $32,685,000. Tempus AI accounts for approximately 1.1% of Lingotto Investment Management LLP's portfolio, making the stock its 16th largest position. Lingotto Investment Management LLP owned approximately 0.57% of Tempus AI at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern University bought a new stake in Tempus AI during the second quarter worth about $491,000. WINTON GROUP Ltd acquired a new position in Tempus AI in the 2nd quarter valued at approximately $634,000. EFG Asset Management North America Corp. bought a new position in Tempus AI during the 2nd quarter worth $1,333,000. Pier Capital LLC acquired a new position in shares of Tempus AI in the second quarter worth approximately $2,301,000. Finally, Allen Operations LLC bought a new stake in shares of Tempus AI in the 2nd quarter valued at $3,831,000.

Analysts Set New Price Targets

TEM has been the subject of several research analyst reports. Morgan Stanley initiated coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued an "overweight" rating and a $44.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $47.00 price objective on shares of Tempus AI in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Tempus AI from $42.00 to $47.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Longbow Research began coverage on Tempus AI in a research report on Tuesday, July 9th. They set a "buy" rating and a $48.00 target price for the company. Finally, William Blair began coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Tempus AI currently has an average rating of "Moderate Buy" and an average target price of $45.56.

Tempus AI Trading Up 4.2 %

Shares of TEM traded up $2.08 during midday trading on Wednesday, hitting $51.31. 956,883 shares of the company's stock traded hands, compared to its average volume of 1,231,349. Tempus AI, Inc. has a 1 year low of $22.89 and a 1 year high of $77.00. The company's fifty day moving average is $47.50.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($6.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The firm had revenue of $165.97 million during the quarter, compared to analyst estimates of $159.10 million. As a group, research analysts forecast that Tempus AI, Inc. will post -6.51 EPS for the current year.

Tempus AI Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.